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Do NRIs need RBI approval for selling stocks allotted through IPO?
No. An NRI can sell IPO shares without any approval.
Note that, while seeking the credit of sale proceeds to NRE/NRO account, the bank should be provided with the details regarding date of allotment and cost of acquisition to calculate the taxes, if any.
Do NRIs need RBI approval for selling stocks allotted through IPO?
